A performance bond in an amount adequate to cover the cost of construction must be posted before any installation of mains and fire hydrants can begin hereunder in order to assure compliance with the foregoing and that such hydrants and water mains shall be properly installed and maintained according to specifications of the public utilities department. Such bond will not be released until the requirements are met and all fire hydrants and water mains connected thereto are certified in writing to be in good operating condition by the public utilities director. (Prior code § 49-8-5)